WHAT ARE KPIs?
Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gauge a company's overall performance. KPIs specifically help determine an organisation's strategic, financial, and operational achievements, especially compared to those of other businesses within the same sector.
We understand that organisations can struggle to determine which KPIs are important and sometimes measure for measuring's sake. We will work with you to identify a set of KPIs which, when monitored, will drive the most effective improvements in your organisation.
Some of the KPIs we can work with you to measure for your business:
- Quantitative indicators- these can be presented with a number. eg Financial performance or occupancy of properties.
- Qualitative indicators these can't always be presented as a number. eg Regulatory performance or customer satisfaction.
- Leading indicators these can predict future performance and help redirect resources if indications show a target isn't likely to be met
- Lagging indicators these present a success or failure after the event and can be used to learn from experience for the future
- Input indicators these measure the amount of resources consumed during the generation of the outcome and can help to show productivity of people, process or property
- Process indicators these represent the efficiency or the productivity of a process
- Directional indicators these specify whether or not an organisation is getting better and like leading indicators can help redirect resources
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